2of2An assembly line worker readies a chassis for an engine on an F-150 Ford pickup in Claycomo, Mo. U.S. economic output is expected to climb in the first quarter at an annual rate of just over 1 percent. ﻿Photo: Charlie Riedel, STF

The U.S. economy grew at a rate of slightly more than 2 percent as 2014 drew to a close, but economists fear some of that momentum flagged in the first quarter of this year.

At an annualized rate of 2.2 percent in the fourth quarter of 2014, the Commerce Department's estimate of growth in the period, released Friday, was unchanged from an earlier estimate released in late February.

This was the final revision by government statisticians who track the economy's performance at the Bureau of Economic Analysis. Before the report, economists on Wall Street had expected the growth rate to be revised upward to 2.4 percent.

While decent, the economy's performance in October, November and December was well below the 5 percent pace of growth in the third quarter and the 4.6 percent rate in the second quarter.

Even so, at 2.2 percent, the pace of economic expansion late last year represents healthier growth than is likely to be seen in the current quarter, which ends Tuesday.

Although the job market has been showing real signs of life, with the unemployment rate's falling to 5.5 percent in February as employers hired 295,000 new workers, other yardsticks have been anemic.

This week, the government reported that durable goods orders fell last month, and retail sales had also been weak, despite consumers' having more cash to spend because of lower energy prices.

Like other economists on Wall Street, Guy Berger of RBS foresees a slow start to growth in 2015, estimating that economic output will rise in the first quarter at an annual rate of just over 1 percent.

A tough week on the stock market ended quietly Friday after the report was released.

Major indexes notched modest gains, but not nearly enough to make up for the four previous days of losses.

It wound up being the second-worst week for the market so far this year.